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According to the Philadelphia Federal Reserve's quarterly survey, the U.S. economy is expected to expand at an annual rate of 2.5% in the second quarter, down from its February forecast of 3.0%.
Economists expect the economy to grow 3.1% in the third quarter of 2015, up from the previous estimate of 2.8%.
For 2015 as whole, the economic growth is expected to be 2.4%, down from 3.2% in February.
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